1) Thai stock market overview
Thailand’s SET Index closed at 1,633.73 points, increased 8.55 points or 0.53% with a trading value of 61 billion baht. The analyst stated that the Thai stock market moved narrowly in a positive direction after easing concerns on the Fed’s rate hike. Meanwhile, the speculation in reopening and financial stocks led SET Index to close above its 200 days moving average.
The analyst recommended investors to keep a close eye on the U.S. PCE for April, while expecting the SET Index to continue moving higher tomorrow.
2) Japan will reopen for international tourists from June 10
Prime Minister Fumio Kishida announced on Thursday that Japan will resume welcoming foreign tourists on June 10 as the country continues to relax COVID-19 border restrictions, according to local media.
Kishida made the announcement during an international event in Tokyo, in advance of Japan’s decision to double the daily entry limitation to 20,000 beginning next Wednesday. Initial tourism arrivals will be restricted to guided tour groups to avoid the risk of disease transmission.
3) Russia holds back ruble’s rally by cutting interest rates for the third time
Russia’s central bank cut interest rates for the third time in just over a month and said borrowing costs can fall further still, halting a rally in the ruble as it unwinds the financial defenses in place since the invasion of Ukraine.
The Bank of Russia lowered its benchmark to 11% from 14% on Thursday at an extraordinary meeting it announced only a day earlier.
